06. modular design thinking in business strategy.

Today, modular design is almost a prerequisite for the cost-effective design and production of products and services. Experimentation with modular designs can fuel powerful innovations. These ideas can actually be applied to business strategy. How can digital product architecture and platforms help a firm to create and develop a range of innovative new products and services?

A key strategy is to develop a family of product variants derived from a common platform and/or modular architecture. Reuse of components, processes and brand elements leads to advantages in learning curves and economies of scale, which have to be carefully balanced against the desire for product customization and competitive pressures. Design thinking inspired strategies can lead to innovation and generation of new revenue growth, by intelligently leveraging existing brands, modules, and sub-system technologies.